Home Trending Stocks Why Applied UV Inc (AUVI) stock lost its positive momentum in the...

Why Applied UV Inc (AUVI) stock lost its positive momentum in the after-market on Thursday?

Applied UV Inc (AUVI) shares lost 11.82% to trade at $7.09 in after-market on Thursday, May 20, 2021. Earlier, AUVI’s stock gained 11.36% to close Thursday’s normal session at $8.04. AUVI shares have moved up by 4.01% in the past week. Over the past three months, the stock has lost 25.97%, while over the past six months, it has surged 59.52%.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Let’s try to find out the reason behind its turnaround on Thursday.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Distribution agreement with 3Sixty Biopharmaceuticals

On May 19, 2021, Applied UV, Inc signed an exclusive distribution agreement for the distribution of the Airocide® consumer and commercial air purification systems within the continent of Africa, with 3Sixty Biopharmaceuticals (Pty) Ltd.

Read More

According to the agreement, 3Sixty will pay an upfront binding purchase commitment of a minimum of $3.5 million of Airocide® systems over the initial one-year term of the agreement.

Sixty is one of the largest black-owned companies in South Africa with a primary focus on the market that addresses the healthcare crisis due to the global pandemic.

Financial results announcement

On May 17, 2021, Applied UV, Inc released its first-quarter results for 2021.

Q1 2021 financial highlights

Applied UV reported net sales of $2,312,615 in Q1 2021 compared to $1,471,634 for Q1 2020.

Gross profit was $924,266 for the reported quarter compared to $309,821

For Q1 2020.

The company spent $1,645,162 in total operating expenses in Q1 2021 compared to $388,198 in Q1 2020.

It suffered a net loss of $1,032,951 for the three months ended March 31, 2021, compared to a net loss of $78,377 in the three months ended March 31, 2020.

The company had a cash balance of $8.9 million on March 31, 2021.

Received Patent in china

On April 12, 2021Applied UV, Inc. announced that the Chinese Patent Office has issued a notice granting Applied UV’s patent application for its core pathogen destroying the device.

President of Applied UVMax Munn said that, Including China, the company have received ten crucial patents for our foundational pathogen destroying technology, which defines an exciting new path to address the global challenge of infection prevention and reinforces the uniqueness of our technology.

New chief financial officer appointment

On April 5, 2021, Applied UV, Inc appointed Mike Riccio, CPA, as Chief Financial Officer, effective April 5, 2021.

Mr. Riccio is a highly accomplished CFO having a background with global public companies in corporate finance and operations management systems. He holds an extensive array of financial experience.

Acquisition of the Airocide(R) Technology

On February 9, 2021, SteriLumen, Inc which is a wholly-owned subsidiary of Applied UV acquired all of the assets of Akida Holdings LLC, (Akida), including all of the rights to manufacture and sell the Airocide® System of patented, air disinfection and purification technologies, for 1.375 million common shares of Applied UV stock and $901,274.96 in cash.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Conclusion

There is no such negative news that could be linked with its loss in the after-market session on Thursday. In fact, we had some positive news that can take AUVI stock to climb on Friday.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Why Accuray Incorporated (ARAY) stock had a good Wednesday?

Accuray Incorporated (ARAY) shares rose 4.86% in after-hours on Wednesday, June 23, 2021, and closed at $4.75 per share. Earlier in the morning session,...

Reto Eco-Solutions Inc. (RETO) stock declines during after-hour session. Let’s see why?

Reto Eco-Solutions Inc. (NASDAQ: RETO) stock gained by 12.82% at last close whereas the RETO stock-price fell by 5.3% in the after-hour session. ReTo...

Adial Pharmaceuticals Inc. (ADIL) stock plunged during pre-market trading. Here’s to know why?

Adial Pharmaceuticals Inc. (NASDAQ: ADIL) stock gained by 9.06% at last close while the ADIL share price fell by 6.07% in the pre-market trading...

Why AbCellera Biologics Inc. (ABCL) stock faced negativity on Tuesday?

AbCellera Biologics Inc. (ABCL) shares lost 2.13% in after-hours on Tuesday, June 22, 2021, and closed the day at $21.60 per share. Earlier, ABCL's...

Biocept Inc. (BIOC) stock surged during current market trading. Why is it so?

Biocept Inc. (NASDAQ: BIOC) stock gained by 3.13% in the current market trading. Biocept creates and sells molecular diagnostic tests that offer doctors with...

How Capricor Therapeutics Inc (CAPR) stock recover its early loss in the after-hours on Wednesday?

Capricor Therapeutics Inc. (CAPR) shares went up 7.28% in after-hours on Wednesday, June 23, 2021, and closed the day at $5.60 per share. Earlier...

Why Accuray Incorporated (ARAY) stock had a good Wednesday?

Accuray Incorporated (ARAY) shares rose 4.86% in after-hours on Wednesday, June 23, 2021, and closed at $4.75 per share. Earlier in the morning session,...

Reto Eco-Solutions Inc. (RETO) stock declines during after-hour session. Let’s see why?

Reto Eco-Solutions Inc. (NASDAQ: RETO) stock gained by 12.82% at last close whereas the RETO stock-price fell by 5.3% in the after-hour session. ReTo...

Related News

Why Accuray Incorporated (ARAY) stock had a good Wednesday?

Accuray Incorporated (ARAY) shares rose 4.86% in after-hours on Wednesday, June 23, 2021, and closed at $4.75 per share. Earlier in the morning session,...

Reto Eco-Solutions Inc. (RETO) stock declines during after-hour session. Let’s see why?

Reto Eco-Solutions Inc. (NASDAQ: RETO) stock gained by 12.82% at last close whereas the RETO stock-price fell by 5.3% in the after-hour session. ReTo...

Adial Pharmaceuticals Inc. (ADIL) stock plunged during pre-market trading. Here’s to know why?

Adial Pharmaceuticals Inc. (NASDAQ: ADIL) stock gained by 9.06% at last close while the ADIL share price fell by 6.07% in the pre-market trading...

Why AbCellera Biologics Inc. (ABCL) stock faced negativity on Tuesday?

AbCellera Biologics Inc. (ABCL) shares lost 2.13% in after-hours on Tuesday, June 22, 2021, and closed the day at $21.60 per share. Earlier, ABCL's...

Biocept Inc. (BIOC) stock surged during current market trading. Why is it so?

Biocept Inc. (NASDAQ: BIOC) stock gained by 3.13% in the current market trading. Biocept creates and sells molecular diagnostic tests that offer doctors with...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

7542

GIFT

Download free eBook for 

7 GROWTH  STOCKS FOR 2021

WAIT 
WE HAVE GIFT FOR YOU

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam